Condominium property

Mangesh Shingare (Querist) 08 June 2012 This query is : Resolved
Dear Sir,

We have booked a office space in a commercial buliding which is under costruction in March 2011 & located in Mumbai.

Now we have to go for registration of the property. We got the draft of the agreement from our builder.

Our builder tends to create condominium & its also mention that we can not have our society in future or builder.

What is the difference between condominium & co-operative society? What are the disadvantages of condominium?

Is it advisable to book the property under condominium? will it make any problem if we would like to sell the property in future?

We alreday paid around Rs. 12,00,000/- in cheque to the builder.

Your immediate advice will be highly appreciated.

Best regards,
Managesh Shingare

Follow Query

Report Abuse

Nadeem Qureshi (Expert) 09 June 2012
Dear managesh
You can easily afford a lawyer fee,contact a lawyer and consult with him/her.

J K Agrawal (Expert) 09 June 2012
Mr Mangesh

There is no conflict between Condominium and Society. if the builder is giving the building under condominium, it is much favorable to you then So called Society.

even though agreement of Condominium, and restrictions to create a society, you can create a society ( i think it is mandatory or is a legal right at Maharashtra). The society is to manage and maintain the property where as the agreement of Condominium says that all the common parts of the building will be owned and maintained by all the unit holders and no individual right of any unit holder shall be there upon any common area.( Just like top floor unit holder will not entitle to say the roof to be his own and the ground floor unit holder will not say that garden is his property)

Mangesh Shingare (Querist) 12 June 2012
Thanks a lot for your advice.

Regards
Mangesh Shingare

Shonee Kapoor (Expert) 20 June 2012
Nothing left to be added.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries